ROYAL Bank of Scotland has agreed to settle with three of five shareholder groups who claimed they were misled during a £12billion fundraising drive in 2008 to shore up its finances.

RBS has agreed to settle out of court with three of five shareholder groups in case

The lender, more than 70 per cent owned by the taxpayer, said the “full and final” settlement represented 77 per cent of the claims by value in the rights issue litigation. RBS, which has set aside up to £800million to settle all claims, is seeking to agree terms with the two remaining groups. It said any claims not resolved will be “vigorously defended” at a trial due to start next March.

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NEW car sales accelerated 2.9 per cent to 184,101 last month from the previous November. The number of new vehicles registered from January to November hit a record 2.514 million, according to the Society of Motor Manufacturers and Traders. Sales of fuel-efficient cars jumped by a quarter to grab a record 3.6 per cent share of the market. Strong demand saw fleet sales up 5.1 per cent, even while private registrations stalled at 1.2 per cent. The Ford Fiesta was the most popular model, followed by the Vauxhall Astra.

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New car sales accelerated 2.9 per cent to 184.101last month from the previous November

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Cambian is selling its adult services business for £377million

Cambian’s £377m sale

MENTAL health services group Cambian is selling its adult services business for £377million to US-owned Cygnet Health Care. Cambian, which operates more than 300 facilities including schools, hospitals and specialist care homes, said proceeds would clear its £293million debt and return £40million to shareholders. Chief executive Saleem Asaria said: “The proposed disposal will enable us to focus fully on the development of the children’s services business.”

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Purplebricks half-year revenue soared 159 per cent to £18.7million

Agent in Purple patch

ONLINE estate agency Purplebricks claimed a “seismic shift” was underway in the market after its half-year revenue soared 159 per cent to £18.7million. The group, which launched two years ago and charges a fixed fee, said it was agreeing a sale every 16 minutes round the clock, as it reduced its pre-tax loss from £6.39million to £2.76million. CEO Michael Bruce said: “The UK market backdrop is tough, but we continue to have a confident outlook.” Shares jumped 19¾p to 125p.